Technical Field of the Disclosure
The present embodiment relates generally to sports betting models, and more particularly to a sports betting system that combines several sporting events from a specific category or specific categories into a single betting opportunity and that enables sports bettors to select winners from a multiple number of sports games.
Description of the Related Art
Sports, betting are a popular way of earning money in a gambling industry that provides entertainment and increased viewership to sports fans and spectators. In sports betting, the bettors predict game winners and place a wager on the outcome of the game. Generally, sports bets are of two types: fixed odds and tote odds. In fixed odds, the amount to be paid by the betting system is determined only at the time of wager. In tote odds, all the participating bets are pooled and the winning bets share the pool. Usually, in these conventional types of betting methods, the sports bets are placed prior to the start of an event. In addition to these methods, another type called “in-play betting” also has been very popular. The in-play betting process bets on an outcome after the commencement of an event. Exotic bet is another type of in-play betting which refers to a bet made on a situation that may or may not happen during the processing of an event. Yet another type of betting is arbitrage betting where each outcome of an event is bet upon so that a known profit is made by the bettor after the completion of the event, regardless of the outcome.
Sports betting is commonly conducted in sports like football, soccer, horse or dog racing, basketball and the like utilizing a telephone, interactive television Internet and smartphone applications. With the advent of internet technology and other electronic distribution methods, online sports betting, methods have become very popular in the interactive gaming markets. The online sports betting methods are designed to be more interactive which enables the customers to gamble with joysticks and controls. Certain sports betting models even help the government to collect taxes from the betting organizers and winners. These smarter money betting methods are customized as simple and thrilling depending upon the type of audience. The simple sports betting models are very easy to play and are more suitable for the casual bettor who participates in sports gambling for relaxation rather than for thrills.
A wide variety of methods have been developed to facilitate the sports betting process. For example, one method describes a system that creates virtual events within a virtual world. A virtual event may be akin to a real event, but is completely computer generated within a computer-generated world and is based on statistical measures, either real world or created. Numerous characteristics about the competitors and the competition location parameters are available before a competition event. Based on the known parameters about the location of an event and the characteristics of the participants and their historical past performances in similar events enable bettors to make informed wagers on an event that greatly enhances the satisfaction and involvement in a competition event. However, this method, demands specialized knowledge for a sports bettor on various sports gaming aspects like points, dollars, runs, or goals, to succeed in this sports betting process.
Another method describes a system for enabling a fantasy sports betting system with a server for transmitting odds, displays and results data; a memory device that receives and stores user input and sporting event outcome data in a non-transitory computer readable medium; and a processor that processes user input and sporting event outcome data according to at least one game of the system. However, this system does not provide a second betting chance for picking a sports team if the first chance failed because of technical issues in the system, or a natural calamity.
Yet another method describes a sport and event wagering system. This system allows pari-mutuel wagering with respect to new areas other than horse or dog racing, expanding the sports wagering industry to encompass other areas of interest and enjoyment to bettors. Specifically, pari-mutuel wagering is enabled with respect to the performance statistics of individual sport or event participants, combinations of sport participants, combinations of event participants, and sports teams. However, this sports and event wagering system only allows a sport bettor to predict winners from one sporting contest which can result in smaller payouts to the bettor.
Another betting method exists in which a sports bettor picks a single digit integer, or number from “0” to “9”. Predetermined criterion numbers are summed and the least significant digit of the sum is compared to the selected integer to determine winners. The system includes adding the numerical values of the numbers of the winning positions of the entrants (typically first, second and third), with the least significant digit of the sum or total being compared with the bettor's selected number. However, this betting method is difficult to understand, so a sports bettor with substantial knowledge of the sporting events may not be able to bet effectively and successfully.
Therefore, there is a need for a sports betting method that is easy to understand for a sports bettor with limited knowledge of the sporting events involved. Such a needed method would allow a sports bettor to predict winners from a multiple number of sporting contests providing potentially larger payouts to the bettors. Further, such a needed method would provide a free credit for selecting winning sports teams to a bettor if the first bet failed because of technical issues or a natural calamity. Such a needed method would attract increased interest of sports bettors and spectators. Moreover, such a needed method would allow the sports betting houses to balance the spotting contests without spending much time and money. Such a needed method would be deployed via Internet in a manner that extends the reach of the sports betting houses. Furthermore, such a needed method would not charge a betting fee or a commission due to its higher profit margins. The present embodiment accomplishes these objectives.